Cryptocurrency exchange platform ShapeShift.io has announced that it has integrated the Augur’s Reputation (REP) token, which is a tradable blockchain asset that provides votes to users of Augur's prediction market platform.
According to the official release, Augur REP can be instantly bought or sold by customers across the globe with bitcoin, ethereum, dash and other blockchain assets. These tokens are the first decentralized oracle solutions and enable its holders to report on the outcome of events on Augur. Sign up process is not necessary to use ShapeShift.
“Decentralized prediction markets are one of the most important applications to derive from blockchain technology. Augur has pioneered and popularized the concept and we’re honored to support REP on ShapeShift from day one,” Erik Voorhees, ShapeShift’s CEO said.
The owner of each token is entitled to 1/22-millionth of all market trading fees in return for reporting on market outcomes. With ShapeShift integrating REP, software developers and users can immediately exchange between REP and blockchain assets, thus bringing seamless liquidity to the ecosystem.
“ShapeShift is known throughout the crypto space as one of the best services for digital asset users. New users will have an incredibly easy to use the method to convert cryptocurrencies into REP tokens and vice-versa. It’s wonderful to have such an easy tool to recommend novice users who are interested in REP for the first time,” Tony Sakich, Augur’s director of marketing stated.
ShapeShift website or API can be immediately utilized by companies and individuals to convert between REP and other blockchain assets. According to coinmarketcap.com, REP is currently the eight most valued cryptocurrency with the market cap of $64,173,340 at press time.
